SunSirs: China Gold Association: China's Gold Production to Exceed 381 Metric Tons in 2025

The latest statistics from the China Gold Association indicate that China's gold production in 2025 will reach 381.339 tons, representing a year-on-year increase of 1.09%. Gold consumption is projected to be 950.096 tons, a year-on-year decrease of 3.57%. Domestic gold ETFs are expected to see an increase of 133.118 tons in holdings for 2025, compared to the 53.266-ton increase recorded for the entire year of 2024, marking a year-on-year growth of 149.91%.

Data indicates that China's gold consumption in 2025 will reach 950.096 tons, comprising 363.836 tons for jewelry (a 31.61% year-on-year decrease), 504.238 tons for gold bars and coins (a 35.14% year-on-year increase), and 82.022 tons for industrial and other uses (a 2.32% year-on-year increase).

The China Gold Association stated that driven by multiple factors including elevated gold prices and the implementation of new tax policies, market demand is diversifying. Gold products targeting different segments—such as high-end, lightweight, and cost-effective options—can precisely meet the varied preferences of diverse consumer groups. Concurrently, consumers' understanding of gold's investment attributes continues to deepen. In 2025, China's consumption of gold bars and coins surpassed that of gold jewelry for the first time, marking a phased transformation in the gold market's consumption structure. Furthermore, with the rapid iteration and development of emerging industries such as electronics and new energy, demand for gold in the industrial sector is steadily increasing.

Data also indicates substantial growth in both trading volume and value for China's gold market in 2025. That year, the Shanghai Gold Exchange recorded a cumulative one-way trading volume of 31,400 metric tons (two-way: 62,900 metric tons) across all gold products, representing a 1.02% year-on-year increase. Cumulative one-way trading value reached CNY24.93 trillion  (two-way: CNY49.86 trillion), surging 43.89% year-on-year. The Shanghai Futures Exchange's total gold futures and options trading volume will reach 142,200 metric tons (one-way) or 284,500 metric tons (two-way), a 56.10% year-on-year increase. Total trading value will hit CNY88.97 trillion (one-way) or CNY177.94 trillion  (two-way), a 111.93% year-on-year increase. In 2025, domestic gold ETFs saw an annual net increase of 133.118 tons, up 149.91% from the 53.266-ton net increase in 2024. By the end of December, domestic gold ETF holdings reached 247.852 tons.

From the production perspective, China's domestic raw material gold production reached 381.339 tons in 2025, an increase of 4.097 tons or 1.09% year-on-year. Gold production from imported raw materials reached 170.681 tons, up 13.817 tons or 8.81% year-on-year. Combined domestic and imported raw material gold production totaled 552.020 tons, an increase of 17.914 tons or 3.35% compared to the previous year.

From November 2024 to December 2025, China has increased its gold holdings for 14 consecutive months. In 2025 alone, China added 26.75 tons to its gold reserves, bringing the total to 2,306.32 tons by the end of December.

As an integrated internet platform providing benchmark prices, on February 6th, the SunSirs benchmark price for gold was 1100.73 RMB/gram, a decrease of 8.26% compared to the beginning of the month (1199.84 RMB/gram).

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